Chapter 772 - Marketable Securities Transfer (1) – Part 1
It was Wednesday when Gun-Ho was supposed to go to work in GH Development in GH Building, Sinsa Town. The following day, on Thursday, he would go to work in GH Mobile, Jiksan Town, and Dyeon Korea, Asan City. When Gun-Ho arrived in his office in GH Building, he had his coffee that Secretary Yeon-Soo Oh brought to him. While enjoying his morning coffee reading an economic newspaper, he received a call from President Jae-Sik Moon in China.
“It’s me, Jae-Sik Moon.”
“Oh, President Moon. How are you?”
“They completed the terminal building up to the third floor now, and they will soon start constructing the fourth floor. The building looks already majestic.”
“Really?”
“We have tons of intercity bus service companies who want to have their business in our terminal. Our income from ticket sales fees is on the rise accordingly.”
“Our bus service company doesn’t really get financially involved in the terminal construction, does it?”
“The terminal construction doesn’t really affect our bus service business. We handle the bus service and terminal construction separately. We have a construction team though, and we pay for their wages. Other than that, all the construction cost is coming from the construction account.”
“Are we still keeping the same number of bus lines as we talked about last time?”
“Yeah. We received two additional bus lines last time, so we still have nine bus lines in total. The words about our bus service are now well spread, and we have a good number of customers now. We are making from 50,000 Yuan to 60,000 Yuan per day if counting only the income from the intercity bus service business running 9 buses. This doesn’t include the revenue from ticket sales fees.”
“How much are we making per month then? Is it around 1.5 million Yuan to 1.8 million Yuan?”
“That’s correct. It’s around a bit less than 300 million Korean won per month.”
“It’s about the amount that we make by running that KFC restaurant, huh?”
“You need to take into account the cost of ingredients for the KFC. On the other hand, we don’t spend much on the ‘ingredient costs’ for the bus business. We just pay for the gas, bus maintenance, and bus depreciation cost. That’s all. Oh, the labor cost takes more for the bus business than the KFC.”
Jae-Sik Moon continued, “Our joint venture’s board chairman—President Runsheng Yan—came and talked to me yesterday. He said that the board meeting for the second half-year won’t be held since according to him, it’s pointless to have the board meeting when the Korean partner refuses to send the investment funds.”
“Tell him that the Korean partner will send the investment funds right away once the ownership of the land is transferred to the joint venture’s name.”
After getting off the phone with Jae-Sik Moon, Gun-Ho made a call to Dyeon Korea’s Director Yoon.
“We are planning to give out presents to our employees for the upcoming Thanksgiving Day, aren’t we? Did you decide what kind of gifts we are going to give away?”
“We haven’t decided it yet, sir, but I was thinking of a gift set of some processed food like hams or cans.”
“Let’s add something else to that food gift set. What do you think of training outfits? GH Mobile is preparing training outfits for their employees. Dyeon Korea should do that too. You will receive 200 training outfits from China. President Jae-Sik Moon will ship them to our company.”
“Mr. President Moon, sir? I guess we will have to pick them up at the customs office in Cheonan City then. I will be expecting the shipment, sir.”
“Is Mr. Internal Auditor in the office now?”
“He is out to visit the stock brokerage company.”
“Hmm, really? Okay.”
In that afternoon, Gun-Ho received a call from the internal auditor.
“I’m at the stock brokerage company, sir. I came here to hand the report on our marketable securities to them to file.”
“Good.”
“There is one thing that I’ve noticed now though. Our company share is already split into two, so the price per share is 5,000 won. Give me one second, sir. I will have the branch manager here to explain to you about it.”
“Sir, it’s me, the branch manager.”
“Oh, Mr. Branch Manager. How are you?”
“One of the requirements that need to be fulfilled before applying for the preliminary examination is reducing the face value of the company shares. Therefore, we, as your company’s agency in this matter, already split the share into two with the price of 5,000 won. 5,000 won is the upper limit.”
“Hmm, really?”
“We can split the shares to make its price 100 won, 200 won, 1,000 won, 2,500 won, or 5,000 won. We make it 5,000 won for now, and you can do a stock split later.”
“A stock split…”